Thea Foundation
- Assets
- $6.2m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 4
- Location
- North Little Rock, AR
- Founding
- 03/2002
- Data as of
- 06/2024
- EIN
- 52-2356755
Organization Overview
Thea Foundation is located in North Little Rock, AR. The organization was established in 2002. According to its NTEE Classification (P40) the organization is classified as: Family Services, under the broad grouping of Human Services and related organizations. As of 06/2024, Thea Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thea Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2024, Thea Foundation generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (3.0%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVOCATE THE IMPORTANCE OF THE ARTS IN THE DEVELOPMENT OF OUR YOUTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION AWARDS SCHOLARSHIPS TO HIGH SCHOOL SENIORS ACROSS THE STATE OF ARKANSAS. SCHOLARSHIP CATEGORIES INCLUDE VISUAL ART, PERFORMING ARTS, CREATIVE WRITING, FILMMAKING, AND FASHION DESIGN. THE MOTIVATION BEHIND THE SCHOLARSHIP PROGRAM IS TO REWARD HARDWORKING STUDENTS AND TO INSPIRE THEM TO BE CONFIDENT AND AMBITIOUS.
OTHER PUBLIC SERVICES - ART DEPARTMENT.
THEA'S ART CLOSET IS A PROGRAM THAT FUNDS ART-FOCUSED PROJECTS IN ARKANSAS FOR K-12 STUDENTS MATCHING DOLLARS FROM DONORS CHOOSE. IN THE 2023-2024 SCHOOL YEAR, THEA FUNDED 308 PROJECTS.
THE ARTS RECONSTRUCTION PROGRAM PARTNERS WITH CULTURAL INSTITUTIONS AND ARTS ORGANIZATIONS IN ARKANSAS TO PROVIDE NEW AND AMPLIFY EXISTING ARTS PROGRAMMING WITHIN SCHOOLS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dave Hawsey President | OfficerTrustee | 4 | $0 |
Brent Black Treasurer | OfficerTrustee | 2 | $0 |
Nick Leopoulos Executive Director | OfficerTrustee | 40 | $102,336 |
Sharon Heflin Director | Trustee | 2 | $0 |
Jennifer Herron Director | Trustee | 2 | $0 |
Stephanie Lamberth Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $404,087 |
| Related organizations | $0 |
| Government grants | $376,253 |
| All other contributions, gifts, grants, and similar amounts not included above | $354,545 |
| Noncash contributions included in lines 1a–1f | $3,901 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,134,885 |
| Total Program Service Revenue | $100,000 |
| Investment income | $103,134 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$36,064 |
| Net Gain/Loss on Asset Sales | $275,568 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,577,523 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $207,900 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $105,000 |
| Compensation of current officers, directors, key employees. | $21,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $196,251 |
| Pension plan accruals and contributions | $4,632 |
| Other employee benefits | $14,262 |
| Payroll taxes | $21,377 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,716 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $40,428 |
| Advertising and promotion | $215,624 |
| Office expenses | $2,012 |
| Information technology | $14,394 |
| Royalties | $0 |
| Occupancy | $396 |
| Travel | $622 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,679 |
| Insurance | $8,100 |
| All other expenses | $4,173 |
| Total functional expenses | $1,068,715 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $569,115 |
| Savings and temporary cash investments | $1,508,234 |
| Pledges and grants receivable | $9,870 |
| Accounts receivable, net | $35 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $20,730 |
| Net Land, buildings, and equipment | $1,273,884 |
| Investments—publicly traded securities | $2,800,232 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,225 |
| Total assets | $6,184,325 |
| Accounts payable and accrued expenses | $75,341 |
| Grants payable | $0 |
| Deferred revenue | $350,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,845 |
| Total liabilities | $429,186 |
| Net assets without donor restrictions | $2,697,827 |
| Net assets with donor restrictions | $3,057,312 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,184,325 |